Strength in banking stocks helped offset U.S. government data that showed December retail sales slightly weaker than expected.

In other economic news, higher gasoline prices helped push December consumer prices up at the fastest pace in a year and a half, which also weighed on consumer sentiment in early January, according to a Reuters/University of Michigan survey.

The average gasoline price of $3.09 a gallon is the highest since $3.15 on October 13, 2008, according to the Energy Department's weekly survey of service stations.

U.S. oil prices have soared more than 62 percent since early 2009, contributing to an eight-month climb in the S&P energy index , which is close to its highest since October 2008.

Another week of gains for the benchmark S&P 500 would make it the longest stretch since April-May 2007.

Dow component Intel Corp fell 0.9 percent to $21.10, a day after it posted a better-than-expected quarterly profit and forecast strong revenue for the coming quarter.

Even though there are concerns about Intel's strategic positions, their numbers were good, JPMorgan's numbers were good and expectations are that you have a strong earnings season in the fourth quarter, Awad said.

Financial shares have been the biggest market driver in recent weeks. Since the start of December, the KBW banking index surged almost 21 percent, while the S&P gained almost 9 percent.